Enhanced Oil Recovery Market Size, Share, and Trends 2024 to 2034

The global enhanced oil recovery market size is calculated at USD 60.3 billion in 2025 and is forecasted to reach around USD 112.02 billion by 2034, accelerating at a CAGR of 7.10% from 2025 to 2034. The North America enhanced oil recovery market size surpassed USD 22 billion in 2024 and is expanding at a CAGR of 7.24% during the forecast period. The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year.

  • Last Updated : January 2025
  • Report Code : 1598
  • Category : Energy and Power

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Enhanced Oil Recovery Market 

5.1. COVID-19 Landscape: Enhanced Oil Recovery Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Enhanced Oil Recovery Market, By Technology

8.1. Enhanced Oil Recovery Market, by Technology Type

8.1.1. Thermal EOR

8.1.1.1. Market Revenue and Forecast

8.1.2. Chemical EOR

8.1.2.1. Market Revenue and Forecast

8.1.3. Gas EOR

8.1.3.1. Market Revenue and Forecast

Chapter 9. Global Enhanced Oil Recovery Market, By Application

9.1. Enhanced Oil Recovery Market, by Application

9.1.1. Onshore

9.1.1.1. Market Revenue and Forecast

9.1.2. Offshore

9.1.2.1. Market Revenue and Forecast

Chapter 10. Global Enhanced Oil Recovery Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Technology

10.1.2. Market Revenue and Forecast, by Application

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Technology

10.1.3.2. Market Revenue and Forecast, by Application

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Technology

10.1.4.2. Market Revenue and Forecast, by Application

10.2. Europe

10.2.1. Market Revenue and Forecast, by Technology

10.2.2. Market Revenue and Forecast, by Application

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Technology

10.2.3.2. Market Revenue and Forecast, by Application

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Technology

10.2.4.2. Market Revenue and Forecast, by Application

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Technology

10.2.5.2. Market Revenue and Forecast, by Application

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Technology

10.2.6.2. Market Revenue and Forecast, by Application

10.3. APAC

10.3.1. Market Revenue and Forecast, by Technology

10.3.2. Market Revenue and Forecast, by Application

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Technology

10.3.3.2. Market Revenue and Forecast, by Application

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Technology

10.3.4.2. Market Revenue and Forecast, by Application

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Technology

10.3.5.2. Market Revenue and Forecast, by Application

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Technology

10.3.6.2. Market Revenue and Forecast, by Application

10.4. MEA

10.4.1. Market Revenue and Forecast, by Technology

10.4.2. Market Revenue and Forecast, by Application

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Technology

10.4.3.2. Market Revenue and Forecast, by Application

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Technology

10.4.4.2. Market Revenue and Forecast, by Application

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Technology

10.4.5.2. Market Revenue and Forecast, by Application

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Technology

10.4.6.2. Market Revenue and Forecast, by Application

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Technology

10.5.2. Market Revenue and Forecast, by Application

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Technology

10.5.3.2. Market Revenue and Forecast, by Application

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Technology

10.5.4.2. Market Revenue and Forecast, by Application

Chapter 11. Company Profiles

11.1. Halliburton Energy Services, Inc

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Royal Dutch Shell plc

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Schlumberger Limited

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Chevron Phillips Chemical Company LLC

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. TechnipFMC plc

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. National Aluminium Company Limited

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. Baker Hughes Company

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. Total SA

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. China National Petroleum Corporation

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. Titan Oil Recovery

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

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Frequently Asked Questions

The global enhanced oil recovery market size is estimated to reach US$ 112.02 billion by 2034 from valued at US$ 56.41 billion in 2024 and poised to grow at a CAGR of 7.10% during the forecast period 2025 to 2034.

The enhanced oil recovery market is anticipated to grow at a CAGR of 7.10% between 2025 and 2034.

The major players operating in the enhanced oil recovery market are Halliburton Energy Services, Inc, Royal Dutch Shell plc, Schlumberger Limited, Chevron Phillips Chemical Company LLC, TechnipFMC plc, National Aluminium Company Limited, Baker Hughes Company, Total SA, China National Petroleum Corporation, and Titan Oil Recovery.

Tertiary recovery is used for the product of liquid hydrocarbons by using numerus ways, which will propel the market growth during the forecast period. The operation of enhanced oil recovery technologies in the coastal basins is anticipated to boost the market growth, due to the gradual rise in the development of offshore wells in deep andultra-deep waters in regions similar as Gulf of Mexico, North Sea, and South China Sea.

North America is likely to dominate the market and will lead from the year 2025 to 2034

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